Hennion & Walsh Asset Management Inc. Has $792,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Hennion & Walsh Asset Management Inc. lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,161 shares of the industrial products company’s stock after selling 123 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Caterpillar were worth $792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Southland Equity Partners LLC increased its stake in shares of Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after buying an additional 30 shares during the period. Davis Investment Partners LLC increased its position in Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after acquiring an additional 30 shares during the period. McIlrath & Eck LLC raised its stake in shares of Caterpillar by 4.4% during the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 33 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Caterpillar by 7.4% in the first quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 33 shares during the last quarter. Finally, Lodestar Private Asset Management LLC increased its holdings in Caterpillar by 4.4% in the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Down 1.2 %

Caterpillar stock opened at $329.08 on Tuesday. The firm has a market capitalization of $160.94 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The firm’s fifty day moving average price is $339.74 and its two-hundred day moving average price is $329.78. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, equities research analysts predict that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar declared that its board has authorized a share buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be given a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 23.48%.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 500 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Maclennan purchased 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several recent research reports. TD Cowen increased their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and boosted their price target for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. Truist Financial began coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $329.63.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.